Netherlands

Mitsubishi acquires 50% stake in Eneco offshore project

THE NETHERLANDS: Mitsubishi has acquired a 50% stake in the 129MW Eneco Luchterduinen offshore wind farm, in the Dutch North Sea, as part of a wider cooperation agreement between the two companies.

In a statement, utility Eneco said the two companies have entered into an agreement to cooperate further on offshore wind. This includes the Princess Amalia wind farm, which has been operational since 2008.

Eneco said the two companies would discuss further possibilities for future cooperation, which could include wind farms in Belgium and the UK that are wholly or partly owned by Eneco.

Eneco Luchterduinen, the Dutch offshore wind farm formerly known as Q10, was set to use Vestas V112 3MW turbines following an unconfirmed deal in 2011. Contractors for the project were picked last year. Construction will commence in 2013 with completion set for the following year.

Importantly, there is space at the project to test and develop foundations and new turbines. Recently, Mitsubishi has been in talks with Vestas about a co-development deal involving the latter's V164 turbine. Mitsubishi is also developing its 7MW Sea Angel offshore turbine.

Mitsubishi Global Environment & Infrastructure Business Development Group director, Nobuaki Kojima said "I am convinced that this transaction is the beginning of a long-term relationship with Eneco. A relationship that rests on the foundation of our shared commitment to sustainability."

In 2009, Eneco was awarded an exclusive right to develop 200MW in block Q10 in Dutch territorial waters of the North Sea.

At the time, Eneco said it had received a grant from the Dutch Ministry of Economic Affairs, Agriculture and Innovation to complete the €400-450 million budget.

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